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Committees of the Supervisory Board

The members of the individual committees of the Supervisory Board of UNIQA Insurance Group AG are listed in the consolidated Corporate Governance Report 2016 (page 8).

Excerpt from the rules of procedure of the Supervisory Board:

A "working committee" shall be set up, which shall consist of the chairman, his three deputies, and two other members elected by the supervisory board. The working committee can make decisions only if the urgency of a matter does not allow decisions to be taken at the next meeting of the supervisory board. It is up to the chairman to determine whether a matter is urgent. Reports about the resolutions shall be issued in the next meeting of the supervisory board. Subject to the above, the working committee can generally decide all matters for which the supervisory board is responsible, except for those matters to be decided by the entire supervisory board as prescribed by law and the articles of association and the following matters:

  • Supervision of the management per se (Section 95 (1) AktG);
  • Audit of the financial statements, of the proposal for the allocation of profits, of the management report, and the respective reports to the shareholders meeting (Section 96 AktG);
  • Participation in adopting the financial statements (Section 125 AktG);
  • Notice of shareholders' meeting;
  • Appointment and recall of the members of the management board;
  • Election and recall of the chairing committee of the supervisory board (Aufsichtsratspr√§sidium);
  • Incorporation, acquisition and sale of investments and real property with a value in excess of EUR 50 million (fifty million Euros) in a particular case;
  • Taking up and abandoning business activities abroad;
  • Reorganisations, amendments of the articles of association, capital measures.

Furthermore, a "committee for management matters" shall be set up for the relations between the Company and the members of its management board (Section 92 (4) last half sentence AktG). It shall consist of the chairman and his three deputies.

Furthermore, an "audit committee" (Section 92 (4a) AktG) shall be set up, which shall consist of the chairman, his three deputies, and two other members elected by the supervisory board.

Furthermore, an "investment committee" shall be set up which shall consist of six members elected by the supervisory board. This committee will advise the management board on its investment policy, but does not have decision-making power.

Finally, an IT Committee shall be set up which shall consist of four members elected by the supervisory board. This committee shall monitor the implementation of a new IT core system for the Group and/or the implementations of the UNIQA Insurance Platform (UIP). It does not have any decision-making powers.